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A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 350 units Ending inventory
A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 350 units Ending inventory at January 31 totals 150 units Deginning inventory on January 1 purchase on January 9 Purchase on January 25 Units Unit cost 320 $3.00 30 3.20 3:34 100 Required: Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method (Round per unit costs to 2 decimal places. Amounts to be deducted should be indicated with a minus sign.) Periodic Weighted Average Cost per Cost of Goods Sold # of units Avg Cost per Cost of sold unit Goods Sold unit Beginning inventory Purchase - January 9 Purchase. January 25 Available for Sale January Sales Total Inventory on hand # of units Inventory Value 320 s 3,00 $ 960 80S 3.20 256 1003 3.34 334 500 1,550 0 500 $ 1,550 0 5 0
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